Bloomberg | NorthWest Real Estate

Luxury Homeowners Turn to ‘Short Sales’ as Loan Defaults Rise (Bloomberg)

December 16, 2009 By admin Leave a Comment

Dec. 17 (Bloomberg) — Homeowners with mortgages of more than $1 million are defaulting at almost twice the U.S. rate and some are turning to so-called short sales to unload properties as stock-market losses and pay cuts squeeze wealthy borrowers.

Filed Under: Real Estate News Tagged With: 1 Million, Bloomberg, Borrowers, Loan Defaults, Mortgages, Stock Market Losses

U.S. Homeowners Lost $5.9 Trillion Since 2006 Peak (Update1) (Bloomberg)

December 9, 2009 By admin Leave a Comment

Almost half a trillion dollars was wiped out this year through November as housing headed for a third straight annual decline. New foreclosures and higher mortgage rates in 2010 may hinder a rebound, the property data service said today in a statement.

Filed Under: Real Estate News Tagged With: Bloomberg, Decline, Foreclosures, Half Dollars, Lost, Mortgage Rates, Rebound, Trillion

Commercial Mortgage Defaults at U.S. Banks Reach 3.4% (Update1) (Bloomberg)

December 1, 2009 By admin Leave a Comment

Dec. 1 (Bloomberg) — The commercial mortgage default rate on loans held by U.S. banks more than doubled to 3.4 percent in the third quarter as vacancies rose and rents declined, Real Estate Econometrics LLC said.